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Old 02-19-2009, 01:42 AM
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Default Any benefits of being a "Kentucky resident"
Currently living in Florida and being a florida resident we have the no state income tax, homestead act which provides great tax reduction on property taxes and protects our home from lawsuits, etc..

Looking to sell my house possibly and pick one up in Kentucky but still rent a place down here, and wondering if there are any kind of tax benefits or anything to consider myself a KY resident over FL resident... any thing I should know of?

Thanks!
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Old 02-19-2009, 06:18 AM
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there is no financial incentive to change residences from Fl to KY. However, the problems in tax free states such as Florida, Nevada, and Tn only become obvious in a recessionary period such as the precious present. In KY we don't have these problems and some tax is better than the rot brought on by decision making based upon the almight dollar.
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Old 02-19-2009, 06:58 AM
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Originally Posted by kingcopper View Post
there is no financial incentive to change residences from Fl to KY. However, the problems in tax free states such as Florida, Nevada, and Tn only become obvious in a recessionary period such as the precious present. In KY we don't have these problems and some tax is better than the rot brought on by decision making based upon the almight dollar.
As a former florida resident and now live in ky I say amen . I dont see any of the rot here in ky that I saw in Fl. I also did not pay nearly as much for a home here as I did in florida . I got more home here and less money and guess what can even afford to pay my property taxes and home insurance here !!! My oh my I am so happy here .
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Old 02-19-2009, 08:10 AM
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Old 02-19-2009, 10:02 PM
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Lightbulb Links for tax research
Here is a comparison of the two...
For Ky
The Tax Foundation - Tax Research Areas > Kentucky

and for FL
The Tax Foundation - Tax Research Areas > Florida

This link is easier to use and summarizes the details of each state.
Taxes by State
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